By skyforbes 
What is the Heiken Ashi Candles Indicator?
The Heiken Ashi Candles Indicator is a powerful technical analysis tool that modifies traditional candlestick charts to filter market noise and highlight trend direction more clearly. This free MT5 version from TFLab helps traders:
✔ Identify strong trends with greater accuracy
✔ Spot potential reversals earlier
✔ Reduce false signals from market noise
Key Features of This Free Heiken Ashi Indicator
✅ Smoother Price Action: Transforms erratic price movements into cleaner trends
✅ Trend Identification: Colors candles differently for uptrends (usually blue) and downtrends (usually red)
✅ MetaTrader 5 Compatibility: Works seamlessly on the MT5 platform
✅ Customizable Settings: Adjust colors and sensitivity to match your trading style
✅ Free Download: No cost, no registration required
How to Install the Heiken Ashi Indicator on MT5
- Download the .ex5 file from TFLab
- Open MetaTrader 5
- Navigate to File > Open Data Folder
- Go to MQL5 > Indicators
- Paste the downloaded file
- Restart MT5
- Find the indicator in your Navigator panel under “Indicators”
Trading Strategies Using Heiken Ashi Candles
Trend-Following Strategy
- Enter long when candles turn consistently blue
- Enter short when candles turn consistently red
- Exit when candle color changes
Reversal Strategy
- Watch for small-bodied candles after a strong trend
- Look for color changes near support/resistance
- Confirm with additional indicators (RSI, MACD)
Swing Trading Approach
- Use on H4/Daily charts for clearer signals
- Combine with Fibonacci levels for better entries
- Set stops below recent swing lows (for longs) or above highs (for shorts)
Advantages Over Traditional Candlesticks
✔ Reduces market noise — Smoothes out insignificant price movements
✔ Clearer trends — Makes strong trends visually obvious
✔ Better reversal signals — Small candles often precede reversals
✔ Works on all timeframes — Effective from 1-minute to monthly charts
Limitations to Consider
✖ Lags slightly — Because it’s a smoothed average
✖ Not standalone — Best used with other indicators
✖ Less precise entries — Works better for trend identification than exact entry timing
Conclusion
This free Heiken Ashi Candles Indicator for MetaTrader 5 from TFLab provides traders with an enhanced way to visualize market trends. By filtering out noise and emphasizing trend direction, it helps traders make more informed decisions across all timeframes.
FAQS
1. What is the Heiken Ashi Candles Indicator?A modified candlestick chart that smooths price action to highlight trends and filter market noise.
2. Is this indicator free to download?
Yes — The TFLab version is completely free.
3. Which platforms support this indicator?It works only on MetaTrader 5 (MT5).
4. How is Heiken Ashi different from regular candlesticks?It uses averaged price data to reduce noise and show clearer trends.
Learn more Heiken Ashi Candles Indicator for MetaTrader 5 Download — Free — [TFlab]